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<br />MEMBER TO MEMBER
<br />
<br />MINNEAPOLIS INDUSTRIAL PARK
<br />MARKS 20th ANNIVERSARY
<br />Minneapolis In- '
<br />
<br />acre develop-
<br /> ' Mfg. ~ldgs. /
<br />merit located at ,AAA-1
<br />the intersection ~f~aq ~Ot~er//~s Inc. I
<br />of Interstate 494
<br />and Minnesota~~.~ ' ~ .,. ~ - ' ' :
<br />Highway 55 in
<br />Plymouth-Minn-
<br />
<br />its 20th year of
<br />growth in 1981.
<br />Participating in , ~_~' ~ .... ~ I ~t~-~',~
<br />an anniversary
<br />celebration on September 24 were Carlson Properties
<br />officers (from left) John Nagle, President; Dale
<br />Kennedy, Sales Manager; and dohn Sebold, Vice
<br />President of Development. Carlson Properties, Inc. is
<br />the developer of MIP.
<br />
<br />"Founded in 1961, there are now nearly 7,000 people
<br />employed at the various business located in MIP," said
<br />Curt Carlson of Carlson Properties. "Approximately 425
<br />acres remain for development, providing abundant
<br />opportunity fl)r growth during the coming years."
<br />
<br />NORTHLAND MORTGAGE
<br />ANNOUNCES PROMOTION ...
<br />Ivan S. Kerr, Executive Vice President of the
<br />Commercial Division of Northland Mortgage Com-
<br />pany, is pleased at announce that E. ,Joseph Shaw has
<br />been promoted to Senior Vice President.
<br />
<br />Shaw joined Northland in June, 1979, and his responsibil-
<br />ities include the origination and placement of real estate
<br />financing of commercial income property. He also holds
<br />the MAI designation.
<br />
<br />Shaw and his wife, Myrna, reside with their son and
<br />daughters in Bloomington, Minnesota.
<br />
<br />NORTHLAND ALSO
<br />ARRANGES FINANCING...
<br />For Lake Region Facility
<br />Northland Mortgage reports it has arranged financing
<br />for the Lake Region Manufacturing Inc. facility in
<br />Chaska, Minnesota, to be completed in October of 1981.
<br />Northland placed the $1,125,000 mortgage with Provi-
<br />dent Mutual Life Insurance Company of Philadel-
<br />phia. The building will include 47,000 square feet of office,
<br />lab and manufacturing space, and will be located in the
<br />Jonathan Industrial Park East.
<br />
<br />·.. For Minnesota Industrial Tools
<br />Northland has also arranged permanent mortgage
<br />financing for the new Minnesota Industrial Tools, Inc.
<br />office-warehouse facility located on West 74th Street in
<br />Eden Prairie. Tax-exempt permanent financing of $970,000
<br />was committed by the Provident Mutual Life Insur-
<br />ance Company. The building, which was completed in
<br />June of 1981, is comprised of 50,320 square feet and houses
<br />
<br />Wilson-Tanner Corporation, Promax Photo Industries,
<br />and Minnesota Industrial Tools, Inc. Gerald Portnoy,
<br />president of GSB Investments, handled development
<br />and leasing of the project.
<br />
<br />· . . For Excelsior Bay Gables
<br />Stan Baratz of Northland Mortgage Company,
<br />working with Peter Kitchak of Keewaydin Develop-
<br />ment, was instrumental in arranging both construction
<br />and end loan financing for Excelsior Bay Gables, a 52-
<br />unit luxury condominium development on Lake Minne-
<br />tonka. The project, which is located on the site once
<br />
<br />occupied by the Excelsior Amusement Park, is being
<br />developed by Keewaydin Development. Ground breaking
<br />for the project was held July 6, 1981, with the condo-
<br />miniums expected to be completed July of 1982.
<br />
<br />The project will include a 50-slip marina facility, 95
<br />underground parking stalls, pool and tennis courts. Each
<br />unit will face Lake Minnetonka and ~11 range in size from
<br />1,400 to 2,400 square feet, with prices from $165,000 ~
<br />$300,000.
<br />The financing, arranged by Northland with Citicorp
<br />Real Estate, Inc. and Citicorp Homeowners, Inc.,
<br />involves $14,800,000 construction and permanent financ-
<br />ing. Thirty of the fifty-two units have been sold on the
<br />basis of binding purchase agreements with substantial
<br />down payments.
<br />
<br />ROBERT BOBLETT ANNOUNCES
<br />PARTICIPATION IN FORMATION
<br />OF VALUATION NETWORK, INC.- .
<br />Robert Boblett Associates, Inc. Real Estate Ap-
<br />praisal Services Division is pleased to announce their
<br />participation as principals in the formation of The
<br />Valuation Network, Inc. The firm is a nationwide
<br />consortium of real estate appraisal and counseling
<br />specialists, with members in Pittsburgh, New Orleans,
<br />Denver, Cheshire, Portland, Omaha, Philadelphia,
<br />Chicago, Houston, San Francisco, Cincinnati, Columbus,
<br />Seattle, Detroit and Indianapolis. In addition, Robert
<br />Boblett and Associates will be involved in the valuation of
<br />the business as a going concern and movable and
<br />immovable equipment and fixtures. Robert Boblett
<br />Associates staff includes Robert P. Boblett, Robert P.
<br />Boblett, Jr., and Louis W. Frillman (all NAIOP
<br />members).
<br />
<br />CONGRATULATIONS . . .
<br />
<br />We congratulate the Directory Committee for an
<br />excellent publication. Their hard work and efforts have
<br />once again paid off]
<br />
<br />
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